28 October 2024 Morning Biz News Regional Economic Update: Agriculture Boost, Inflation, and Currency Shifts

28 October 2024 Morning Biz News Regional Economic Update: Agriculture Boost, Inflation, and Currency Shifts

In a promising development for Namibia's agricultural sector, the Otjimbele Agriculture Project, which has poured an impressive N$120 million into the local economy, is set to commence commercial production of ITUM table grapes in 2025. This first large-scale harvest is expected to bring a substantial boost to Omusati’s agricultural landscape, marking a pivotal shift towards increased food production and regional economic growth. Meanwhile, South Africa's Transport Minister Barbara Creecy has […]

October 28, 2024 9

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Africa

Zimbabwe urges swift adoption of new but ‘scarce’ currency

Zimbabwe's Finance Minister Mthuli Ncube has ordered all government agencies to accept payments in the newly introduced gold-backed currency amid reports of acute shortage. Ncube in a statement said the Zimbabwe Gold, introduced last month, was now the official unit of exchange for transactions in the country. He the BBC that the government would soon introduce regulations to ensure businesses stick to the official rate.

May 9, 2024 10 2

Africa

Zimbabwe’s emerging consumer market tops segment – report

By Conrad Onyango, bird story agency Zimbabwe is pushing past sky-high inflation, global sanctions and illicit trade to find itself the unlikely winner in a consumer index that measures Africa’s emerging consumer market. Efforts by the government to offer "essential consumer spending solutions through credit and digital advancements" - including the recent launch of Zim-gold, a new “structured currency” backed by gold - are helping to lower […]

April 15, 2024 19